Using technology in operations

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Using Technology in Operations AS Business Studies Unit 2:Managing a Business

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New-Product Pricing Strategies Product Mix Pricing Strategies Price Adjustment Strategies Price Changes Market-skimming pricing is a strategy with high initial prices to “skim” revenue layers from the market Product quality and image must support the price Buyers must want the product at the price Costs of producing the product in small volume should not cancel the advantage of higher prices Competitors should not be able to enter the market easily Market-penetration pricing sets a low initial price in order to penetrate the market quickly and deeply to attract a large number of buyers quickly to gain market share Price-sensitive market Inverse relationship of production and distribution cost to sales growth Low prices must keep competition out of the market

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This is a highly concentrated presentation that addresses the differences among price, cost, and TCO; what cost reduction strategies to focus on; and an overview of various techniques, as well as when and where to use them. Faced with excruciating competitive pressures, many senior C-Level executives require maximum effort from every part of their organization to survive. Today, purchasing, acquisition, procurement, contracting, and supply management professionals must be the most progressive cost reduction oriented group in the company. For many organizations, senior C-Level executives set forth annual purchasing, acquisition, procurement, contracting, and supply management goals that mandate cost reductions. Regardless of the cost savings, avoidances, or containments achieved previously, you are faced with new cost reduction initiatives and objectives. To make the goal of cost reduction a reality, we cannot focus solely on the price. We must examine the total cost of ownership to your organization, which means moving beyond the organizational environs to include suppliers, internal customers, other allied business functional entities, and external customers. By working both internally and externally with these stakeholders, cost reduction opportunities will become visible. A typical purchasing, acquisition, procurement, contracting, or supply management professional will help reduce supplier prices and avoid incremental costs. A good purchasing, acquisition, procurement, contracting, or supply management professional will reduce costs by lowering both costs of acquisition and risks of supply. A great purchasing, acquisition, procurement, contracting, or supply management professional will reduce total costs across the board, increase service levels to the internal customer, make a significant contribution to the bottom line, seek value-added opportunities, and help to delight the organization’s customer. This type of professional also balances supply related costs and cycle time for the lowest overall cost, at the best value, while seeking risk optimization rather than risk minimization strategies.

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To enable industrial companies to identify startups that can emerge as capable technology partners for the long term, we have compiled a catalogue of Industrial Deep Tech startups from the Forge Portfolio, to serve as a valuable resource. Startups in the Forge Portfolio categorised under Industrial Deep Tech address manufacturing as a sector - apart from other core industrial sectors such as power, energy, resources, transportation, logistics, defence, aerospace, space etc. These startups are broadly categorised under Digital Technology (DT) and Operations Technology (OT). Digital Technology addresses process innovations augmenting capabilities in the areas of digitisation, digitalisation, automation (robotics), analytics, autonomy, and intelligence. Operations Technology relates to innovations in the areas of design (product engineering services), materials (carbon composites), production & processing (additive manufacturing suppliers for new end product categories that traditional fabrication factories don't serve), and business models (manufacturing aggregator platform etc.). This catalogue of 20 Industrial Tech startups is further organized into 7 Industrial Digital Transformation Themes which are further split into 11 sub-themes - that broadly outline operational capabilities, emerging/futuristic technology domains, or product categories in specific market segments that help organise and prioritise the various opportunities for value creation by industrial companies.

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International Conference and Workshop on Emerging Trends in Technology (ICWET 2011) – TCET, Mumbai, India 761 E-Procurement for Increasing Business Process Agility D R Kalbande Research Scholar (Tech.) Mumbai University, Mumbai. +91-9820383928 [email protected] G T Thampi Principal,TSEC, Mumbai University, Mumbai. +91-9969015439 [email protected] N T Deotale Dept. of Computer Engg. LTCOE, Mumbai. +91-9869723420 [email protected] ABSTRACT Today the business is changing rapidly over the period. Every enterprise need to develop new service offerings and new technologies has to be adopted or reconfigured. Most of the service companies are tied with traditional project techniques, which include a staged approach. These stages need to be compressed and changed to meet time-to-market demands. Today every enterprise must be agile enough to respond with changing requirements of their customers. Agility has becomes the basic key attribute today as business faces uncertain and volatile environments.E-Procurement makes it possible to automate buying and selling over the internet. Typically an e-Procurement- enabled website will have product comparisons across vendors and various processes like tendering, auctioning, vendor management, and catalogue and contract management. High-end e-procurement solutions allow organizations to define their own processes in the form of workflows - thus utilizing concepts of business process modeling. In this paper we present the findings from a recent survey on e-procurement in India and explain how an e-procurement can be used in such fast growing organization to speed up the business activity at the suitable agility level and its impact on centralization and firm’s efficiency in the procurement process. Categories and Subject Descriptors K.4.4 [Electronic Commerce ] :Electronic data interchange (EDI) ; K.4.m Miscellaneous; General Terms Management Keywords: Agility, e-procurement, ERP 1. INTRODUCTION In the business buzzword universe, flexibility and agility are often tossed around interchangeably. But the two are vastly different concepts when it comes to business processes and information technology systems. Agility, not flexibility, is key to business's ability to survive and thrive in today's competitive global marketplace. A company that can quickly accommodate a new customer requiring XML ordering capability, for example, has process-level agility. A company that has many ways to complete a process and encourages their customers to specify their preferences and can deliver that customized experience has transaction-level agility. For example, customer who specifies they want to place their orders using XML1 , wants a bar-code label put on the box, an RFID2 tag on a certain type of pallet, and wants a paper invoice once a month with bulk billing is testing a company's transaction- level agility.Companies with low product diversity but strong competition in the market need to excel at process-level agi.

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